Raymond James & Associates Sells 11,793 Shares of Kimco Realty Corp (NYSE:KIM)

Raymond James & Associates lessened its holdings in Kimco Realty Corp (NYSE:KIM) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,376 shares of the real estate investment trust’s stock after selling 11,793 shares during the period. Raymond James & Associates’ holdings in Kimco Realty were worth $1,542,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KIM. Norges Bank purchased a new position in shares of Kimco Realty in the 4th quarter worth $239,184,000. State Street Corp grew its position in Kimco Realty by 19.2% in the first quarter. State Street Corp now owns 44,220,642 shares of the real estate investment trust’s stock worth $1,092,250,000 after acquiring an additional 7,126,475 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Kimco Realty by 23.4% during the third quarter. JPMorgan Chase & Co. now owns 31,120,015 shares of the real estate investment trust’s stock worth $547,401,000 after acquiring an additional 5,894,446 shares during the last quarter. Invesco Ltd. raised its position in Kimco Realty by 31.2% during the third quarter. Invesco Ltd. now owns 18,467,735 shares of the real estate investment trust’s stock valued at $324,847,000 after purchasing an additional 4,393,084 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Kimco Realty by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 100,537,581 shares of the real estate investment trust’s stock valued at $2,483,278,000 after purchasing an additional 3,081,151 shares during the last quarter. Hedge funds and other institutional investors own 89.25% of the company’s stock.

Analyst Upgrades and Downgrades

KIM has been the topic of several analyst reports. Bank of America reissued a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Kimco Realty in a research report on Friday, April 5th. Robert W. Baird cut their price objective on shares of Kimco Realty from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 4th. Citigroup restated a “neutral” rating and issued a $20.00 target price (down previously from $26.00) on shares of Kimco Realty in a report on Friday, March 22nd. Mizuho dropped their price target on shares of Kimco Realty from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Kimco Realty in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.67.

Insider Transactions at Kimco Realty

In related news, Director Frank Lourenso sold 8,890 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.42, for a total value of $172,643.80. Following the completion of the sale, the director now directly owns 203,534 shares of the company’s stock, valued at $3,952,630.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Kimco Realty Stock Performance

Kimco Realty stock opened at $17.74 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 5.05 and a current ratio of 5.05. The company has a market capitalization of $11.96 billion, a PE ratio of 17.39, a P/E/G ratio of 3.97 and a beta of 1.45. The company has a 50 day moving average price of $19.14 and a 200-day moving average price of $19.31. Kimco Realty Corp has a fifty-two week low of $16.34 and a fifty-two week high of $22.83.

Kimco Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Wednesday, March 6th. Kimco Realty’s dividend payout ratio is 94.12%.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.